London – December, 2015
OBJECTWAY: WE’RE ‘AT FRONT AND CENTRE’ OF DIGITAL WEALTH REVOLUTION
Innovation and digitisation were the words on everyone’s lips at the Objectway user conference in London’s Millbank Tower.
The tone was set by the company’s CEO, Luigi Marciano, who told attendees that Objectway prides itself at being ‘at the front and centre in the digital wealth revolution’. The firm, he says, invests 10% of its revenue in innovation.
According to Celent’s Ashley Globerman, investment in emerging technology is something that advisors and wealth management companies have no choice in. The analyst presented figures that showed wealthy clients are increasingly young, tech-savvy and ambitious for control of their investments.
Millenials and Generation Y, she adds, are cost-conscious, knowledgeable and (post-crisis) sceptical about financial institutions. A ‘one-size-fits-all digital strategy isn’t the answer,’ Globerman says. Different age groups will have different needs and offerings ‘need to reflect that’.
More survey results posted by Celent revealed that the digital services of investment firms are ranked poorly for their ease of use, coming perilously close to being as frustrating as government services.
Related: Rabobank goes live with Objectway’s Eximius platform
‘The digital era is changing the way we do business and produce software’, says Alberto Cuccu, chief product officer at Objectway. In that vein, the company will be pushing its Connectus series, which offers multi-device interfaces and a hybrid model that allows modular control of the platform by the user.
Chat, communication and multi-user collaboration are a focus, helping clients communicate with their customers digitally and provide services that the more tech-savvy are looking for.
‘In the future every single business application will have built in collaboration technology’ adds Georgios Lekkas, Objectway’s chief technology and innovation officer. Even in back office and middle office software, he says, communication between people in a company will be crucial.
With customer retention ranked by Celent as one of the highest priorities among wealth and investment managers, there were a lot of nodding heads at Millbank Tower.
Objectway’s shopping basket
Objectway has grown its presence internationally via an aggressive M&A route, with a number of businesses purchased from Thomson Reuters.
It now owns the Eximius and Beta Global platforms, which it bought from Thomson Reuters in late 2012 and summer 2015 respectively.
Last year, it took over UK-based Rhyme Systems, and promised to bring a new lease of life to this long-standing, but somewhat dormant business (it had been previously owned by 3i Infotech).
In early 2015, it unveiled a brand new development of Rhyme Systems, the Illumas wealth/investment management platform, set to compete with the likes of Avaloq and ERI.
By Alex Hamilton - www.IBSintelligence.com